Balanced-budget rules: chaos and deterministic sunspots

DOI10.1016/j.jet.2009.10.014zbMath1245.91065OpenAlexW2050568874MaRDI QIDQ972874

David R. Stockman

Publication date: 21 May 2010

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2009.10.014

zbMATH Keywords

chaosdifferential inclusionregime switchingcyclesindeterminacysunspotsEuler equation branchingbalanced-budget rulemulti-valued dynamical system

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic dynamics (91B55)

Related Items (9)

Invariant measures on multi-valued functions ⋮ Chaotic sets and Euler equation branching ⋮ Controlling chaos in New Keynesian macroeconomics ⋮ Deviant generations, Ricardian equivalence, and growth cycles ⋮ Fixed points imply chaos for a class of differential inclusions that arise in economic models ⋮ On growing through cycles: Matsuyama's M-map and Li-Yorke chaos ⋮ Comparing recursive equilibrium in economies with dynamic complementarities and indeterminacy ⋮ TARIFF AND EQUILIBRIUM INDETERMINACY: A GLOBAL ANALYSIS ⋮ Chaos and sector-specific externalities

Cites Work

• Unnamed Item
• Self-fulfilling prophecies
• Balanced-budget rules and macroeconomic (in)stability
• The inverse limits approach to chaos
• Backward dynamics in economics. The inverse limit approach
• Chaotic dynamics in a cash-in-advance economy
• Capital-labor substitution and competitive nonlinear endogenous business cycles
• Sufficient Conditions in Optimal Control Theory
• Introduction to Applied Nonlinear Dynamical Systems and Chaos
• On Existence of Weakly Maximal Programmes in a Multi-Sector Economy

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